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Air Arabia shareholders approve ten percent cash dividend at AGM

Posted 14 March 2018 · Add Comment

Air Arabia has seen a 30% increase in net profit over the past 12 months according to figures released by the Sharjah Airline today.

The region’s first low-cost carrier recorded profits of $180.25million in 2017 and announced a 10% cash dividend for shareholders at its AGM in Sharjah today.

Chairman of Air Arabia, Sheikh Abdullah Bin Mohammed Al Thani, said: “We are pleased with the performance of the company in 2017 which is reflected in the increase of dividends to our shareholders as compared to last year. Air Arabia remains committed to the growth of the aviation sector both regionally and globally and is strongly poised to overcome any future challenges. Consumer trust is key to our growth strategy as we continue to maintain a strong financial performance through the year and beyond.”

The airline added 21 new routes to its global network in 2017 from its five operating hubs in the UAE, Morocco, Egypt and Jordan. The carrier took delivery of four new aircraft and ended the year with a fleet of 50 Airbus A320 aircraft operating to 145 routes across the Middle East, Africa, Asia and Europe.

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